Unfortunately, for those looking to once again give HP a chance in the tablet game, the specs for the new Slate 7 are very underwhelming -- even for its relatively low starting price of $169.

The Slate 7 comes with a dual-core, 1.6GHz Cortex A9 ARM processor, 1GB of RAM, 8GB of storage space (expandable via microSD), and a 1024x600 display. Other lackluster specs include Bluetooth 2.1, a front-facing VGA camera, and a 3MP shooter on the back. The device runs a stock version of Android 4.1.

The Slate 7 does include Beats Audio onboard and HP's ePrint functionality, but that's likely not enough to sway consumers from competitive offerings like the Google Nexus 7.

"To address the growing interest in tablets among consumers and businesses alike, HP will offer a range of form factors and leverage an array of operating systems," said Alberto Torres, senior vice president, Mobility Global Business Unit, HP. "Our new HP Slate on Android represents a compelling entry point for consumer tablets."